Prime Capital Investment Advisors LLC lifted its position in shares of Equinix Inc (NASDAQ:EQIX) by 4.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 994 shares of the financial services provider’s stock after purchasing an additional 46 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Equinix were worth $451,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Washington Trust Bank bought a new stake in Equinix during the first quarter worth $29,000. Spectrum Management Group Inc. bought a new stake in Equinix during the first quarter worth $29,000. Farmers & Merchants Investments Inc. grew its holdings in Equinix by 174.2% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 85 shares of the financial services provider’s stock worth $30,000 after buying an additional 54 shares in the last quarter. Rehmann Capital Advisory Group grew its holdings in Equinix by 158.8% during the third quarter. Rehmann Capital Advisory Group now owns 88 shares of the financial services provider’s stock worth $38,000 after buying an additional 54 shares in the last quarter. Finally, Pearl River Capital LLC bought a new stake in Equinix during the fourth quarter worth $35,000. 98.92% of the stock is currently owned by institutional investors.
Shares of NASDAQ:EQIX opened at $452.66 on Wednesday. The firm has a market capitalization of $37.20 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 1.62 and a beta of 0.91. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.51. Equinix Inc has a 1 year low of $335.29 and a 1 year high of $467.99.
Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 13th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.46 by ($3.10). The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.31 billion. Equinix had a net margin of 7.20% and a return on equity of 6.88%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 EPS. On average, equities analysts forecast that Equinix Inc will post 20.89 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 27th were paid a $2.46 dividend. This represents a $9.84 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Tuesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $2.28. Equinix’s dividend payout ratio is 47.56%.
Several brokerages recently issued reports on EQIX. Wells Fargo & Co upped their price target on Equinix from $475.00 to $500.00 and gave the stock an “outperform” rating in a report on Wednesday, March 27th. BidaskClub downgraded Equinix from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research downgraded Equinix from a “buy” rating to a “hold” rating in a report on Tuesday. Credit Suisse Group upped their price target on Equinix from $467.00 to $474.00 and gave the stock an “outperform” rating in a report on Thursday, February 14th. Finally, Berenberg Bank began coverage on Equinix in a report on Tuesday, January 8th. They set a “buy” rating and a $477.00 price target for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $495.29.
In other news, CEO Charles J. Meyers sold 3,383 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $425.92, for a total transaction of $1,440,887.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles J. Meyers sold 282 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $462.31, for a total value of $130,371.42. Following the transaction, the chief executive officer now owns 5,882 shares of the company’s stock, valued at approximately $2,719,307.42. The disclosure for this sale can be found here. Insiders sold a total of 17,893 shares of company stock valued at $7,665,409 in the last 90 days. Corporate insiders own 0.51% of the company’s stock.
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Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.
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